EIN: 455231181
UEI: L8TPQN3MBTF4
Audited by: Bernard Robinson & Company, L.L.P.
Oversight agency: 14 [Department of Housing and Urban Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 26, 2026. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by August 26, 2026 (9 days ago).
What is a management decision? →FAC accepted this audit on March 18, 2025 — management decision was due September 18, 2025.
FAC accepted this audit on February 27, 2024 — management decision was due August 27, 2024.
FAC accepted this audit on March 6, 2023 — management decision was due September 6, 2023.
FAC accepted this audit on October 25, 2021 — management decision was due April 25, 2022.
During the year ending June 30, 2021, the project paid operating expenses of a project, related through a common board of directors, of $2,428. Criteria: Per Section 11c. of the Regulatory Agreement, the project shall not make any payment for services, supplies, or materials unless such services are actually rendered for the project or such supplies or materials are delivered to the project and are reasonably necessary for its operation. Effect: Noncompliance with HUD regulations. Cause: A project related through a common board of directors does not have an office, and all rental operations are performed at RIC Shelby Apartments. The allocation of expenses has not been received due to the other project having insufficient cash flow to reimburse the Organization. Context: A test was performed to reconcile the allocation of office expenses and related receivable. During the year ended June 30, 2020, the Organization paid expenses on behalf of the related project of $3,943, and was included in accounts receivable, miscellaneous. These funds were not received during the year ended June 30, 2021. Additionally, during the year ended June 30, 2021, the Organization paid expenses of $2,427 bringing a cumulative balance due to the project of $6,370. Recommendation: We recommend that management ensures project funds are only used for reasonable operating expenses of the project and that the Organization be reimbursed from the related project by requesting approval from the reserve for replacements to fund the operating deficits. Questioned Costs: N/A Views of Responsible Officials and Corrective Action Plan: Management acknowledges that project funds were used to pay the expenses of another project. Due to the circumstances, project expenses must be allocated between the two projects. Management received an approval for a rent increase at the related project and believes this may be sufficient to reimburse the project for those shared expenses. Additionally, management will request approval to withdrawal funds from the reserve for replacements of the related project to reimburse the Organization for any amounts outstanding.
Show full finding ▾Hide full finding ▴Statement of Condition: During the year ending June 30, 2021, the project paid operating expenses of a project, related through a common board of directors, of $2,428. Criteria: Per Section 11c. of the Regulatory Agreement, the project shall not make any payment for services, supplies, or materials unless such services are actually rendered for the project or such supplies or materials are delivered to the project and are reasonably necessary for its operation. Effect: Noncompliance with HUD regulations. Cause: A project related through a common board of directors does not have an office, and all rental operations are performed at RIC Shelby Apartments. The allocation of expenses has not been received due to the other project having insufficient cash flow to reimburse the Organization. Context: A test was performed to reconcile the allocation of office expenses and related receivable. During the year ended June 30, 2020, the Organization paid expenses on behalf of the related project of $3,943, and was included in accounts receivable, miscellaneous. These funds were not received during the year ended June 30, 2021. Additionally, during the year ended June 30, 2021, the Organization paid expenses of $2,427 bringing a cumulative balance due to the project of $6,370. Recommendation: We recommend that management ensures project funds are only used for reasonable operating expenses of the project and that the Organization be reimbursed from the related project by requesting approval from the reserve for replacements to fund the operating deficits. Questioned Costs: N/A Views of Responsible Officials and Corrective Action Plan: Management acknowledges that project funds were used to pay the expenses of another project. Due to the circumstances, project expenses must be allocated between the two projects. Management received an approval for a rent increase at the related project and believes this may be sufficient to reimburse the project for those shared expenses. Additionally, management will request approval to withdrawal funds from the reserve for replacements of the related project to reimburse the Organization for any amounts outstanding.
RIC SHELBY APARTMENTS, INC. Shelby, North Carolina CORRECTIVE ACTION PLAN September 28, 2021 U.S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303 RIC Shelby Apartments, Inc, respectfully submits the following Corrective Action Plan for the year ended June 30, 2021. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Greensboro, North Carolina 27410 Audit period: Year ended June 30, 2021 The finding from the June 30, 2021 Schedule of Findings, Questioned Costs, and Recommendations is discussed below. The finding is numbered consistently with the number assigned in the schedule. Finding No. 2021-001: Recommendation: Management ensures project funds are only used for reasonable operating expenses of the project and that the Corporation be reimbursed from the related project by requesting approval from the reserve for replacements to fund the operating deficits. Action(s) Taken or Planned on the Finding: We agree with Finding 2021-001 and the recommendation described in the accompanying schedule of findings and questioned costs. Management received an approval for a rent increase at the related project and believes this may be sufficient to reimburse the project for those shared expenses. Additionally, management will request approval to withdrawal funds from the reserve for replacements of the related project to reimburse the Organization for any amounts outstanding. If you have any questions regarding this plan, please call (336) 765-3906. Sincerely yours, John Nichols President, Managing Agent North Carolina Housing Services and Management, Inc.
FAC accepted this audit on December 29, 2020 — management decision was due June 29, 2021.
The Corporation did not submit the annual financial report for the year ended June 30, 2019 by the required deadline. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, require the Partnership to submit the annual financial statement report to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations. Cause: Difficulty obtaining the board signature page. Context: A test to determine if the Corporation timely submitted the annual financial report to HUD was performed. For the year ended June 30, 2019, the annual financial report was submitted to HUD on April 21, 2020. Questioned Costs: N/A. Recommendation: We recommend that all signature pages are obtained within the required time frame to ensure that the audit is submitted timely. Management's Response and Corrective Action Plan: Management agrees with the finding and will work with the Board of Directors to meet the required deadline going forward.
Show full finding ▾Hide full finding ▴Finding 2020-001. Statement of Condition: The Corporation did not submit the annual financial report for the year ended June 30, 2019 by the required deadline. Criteria: HUD requirements, under the Uniform Financial Reporting Standards for HUD Housing Programs; Final Rule, require the Partnership to submit the annual financial statement report to HUD within 90 days following the end of each fiscal year. Effect: Noncompliance with HUD regulations. Cause: Difficulty obtaining the board signature page. Context: A test to determine if the Corporation timely submitted the annual financial report to HUD was performed. For the year ended June 30, 2019, the annual financial report was submitted to HUD on April 21, 2020. Questioned Costs: N/A. Recommendation: We recommend that all signature pages are obtained within the required time frame to ensure that the audit is submitted timely. Management's Response and Corrective Action Plan: Management agrees with the finding and will work with the Board of Directors to meet the required deadline going forward.
RIC Shelby Apartments, Inc. West Marion Street Shelby, North Carolina CORRECTIVE ACTION PLAN October 8, 2020 U. S. Department of Housing and Urban Development Five Points Plaza Building 40 Marietta Street Atlanta, Georgia 30303-2806 RIC Shelby Apartments, Inc. respectfully submits the following Corrective Action Plan for the year ended June 30, 2020. Bernard Robinson & Company, L.L.P. 1501 Highwoods Blvd., Suite 300 Post Office Box 19608 Greensboro, North Carolina 27419-9608 Audit period: Year ended June 30, 2020 The finding from the June 30, 2020 Schedule of Findings and Questioned Costs is discussed below. The finding is numbered consistently with the number assigned in the schedule. Findings - Federal Award Programs Audits Finding No. 2020-001: Supportive Housing for Persons with Disabilities (Section 811), CFDA #14.181 Recommendation : We recommend that all signature pages are obtained within the required time frame to ensure that the audit is submitted timely. Management's Response: Management agrees with the finding and will work with the Board of Directors to meet the required deadline going forward. If HUD has questions regarding this plan, please call Mr. John Nichols at (336) 765-3906. Sincerely yours, John Nichols Managing Agent North Carolina Housing Services and Management, Inc.
FAC accepted this audit on April 28, 2020 — management decision was due October 28, 2020.
FAC accepted this audit on April 23, 2019 — management decision was due October 23, 2019.
FAC accepted this audit on February 14, 2018 — management decision was due August 14, 2018.
FAC accepted this audit on March 30, 2017 — management decision was due September 30, 2017.
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Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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